Consolidated Balance Sheets - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 19,586,272	$ 17,164,177
Investment in debt securities - available for sale, at fair value	29,803,095
Accrued interest receivable on investment securities	108,844
Advances and deposits on clinical programs and other current assets	2,447,413	1,660,695
Total current assets	51,945,624	18,824,872
Property and equipment (at cost, less accumulated depreciation and amortization)	477,011	294,551
Other assets:
Money market investments, restricted cash	6,000,000
Deferred income tax asset	1,383,446	1,845,823
In-process research and development, net	13,366,234	13,366,234
Goodwill		1,976,101
Operating lease right-of-use assets, net	690,995	1,047,336
Other intangible assets, net		113,660
Deposits and other assets	183,489	58,761
Total other assets	21,624,164	18,407,915
Total assets	74,046,799	37,527,338
Current liabilities:
Accounts payable – trade	2,547,251	2,244,847
Other accrued liabilities	3,173,537	2,458,532
Notes payable – current portion, net of deferred financing costs		1,116,663
Operating lease liability - current portion	548,870	433,413
Deferred revenue - current portion	500,000	500,000
Total current liabilities	6,769,658	6,753,455
Earn-out milestone liability	5,396,000	7,018,000
Notes payable – non-current portion, net of deferred financing costs	5,854,461	3,934,497
Operating lease liability - non-current portion	230,749	710,305
Deferred revenue - non-current portion		500,000
Total liabilities	18,250,868	18,916,257
Commitments and contingencies
Stockholders’ equity:
Preferred Stock - $0.01 par value (100,000 shares authorized, and no shares issued or outstanding at December 31, 2021 and 2020)
Common stock - $0.01 par value (112,500,000 shares authorized; 5,770,538 and 2,713,424 shares issued at December 31, 2021 and 2020, respectively, and 5,770,516 and 2,713,402 shares outstanding at December 31, 2021 and 2020, respectively)	57,705	27,134
Additional paid-in capital	388,600,979	330,669,476
Accumulated other comprehensive loss	(7,974)
Accumulated deficit	(332,769,591)	(312,000,341)
Total stockholders’ equity before treasury stock	55,881,119	18,696,269
Treasury stock, at cost (22 shares at December 31, 2021 and 2020)	(85,188)	(85,188)
Total stockholders’ equity	55,795,931	18,611,081
Total liabilities and stockholders’ equity	$ 74,046,799	$ 37,527,338

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).